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Floating Regasification The Aegean LNG Terminal
Floating Regasification The Aegean LNG Terminal
Floating Regasification
The Aegean LNG terminal
George Polychroniou
Division Head, Strategy & Corporate
Development
Contents
All 73
Stalled 60 13
Proposed 37
Existing 10
Decommissioned 11 # of projects
0 10 20 30 40 50 60 70 80
• Ideal to go offshore
– Site specific restrictions and constraints
– Permitting and security
– Highly populated areas
• Cost efficient solution
• Rapid time-to-market access compared to onshore regasification
plant
• Can be built in a well controlled shipyard environment
• Easy to mobilize and thus re-deployable
Floating terminals: a cost efficient solution
300
250
200
50
FRSU 5-year
charter
0
1-4 bcm 4-6 bcm 6-10 bcm 10-16 bcm
Source: PFC Energy
Two vessel design options
• LNGRV (ship type, which can also function as a traditional LNG carrier)
Option #1: FSRU
• Non-propelled barge
• Permanently moored to a shore jetty
• Significant simplifications/cost reductions
– Straight barge-shaped hull – shorter hull length
– Minimal engine room without propulsion plant
• Lower power requirements and fuel consumption
• Higher mobilization cost
• In-water diving inspection
– in lieu of dry-docking every 5 years
– in accordance with Classification requirements
Option #2: LNGRV
Increasing demand
(just in Greece and despite the crisis, demand
rose from 3.6bcm in 2010 to 4.2bcm in 2012).
DEPA has concluded a feasibility study of the Aegean LNG receiving terminal,
based on which:
– Location feasibility established
– Floating facility, barge type FSRU or LNGRV
– Regasification capacity to support equivalent of 3-5 bcma
– Storage capacity 150,000 m3
– EIA study expected by mid 2013
– Estimated cost € 250-270 m
– Project execution: 30 months from FID
The Greece-Bulgaria Interconnector (IGB)
IGB acts as a gateway to SEE through Greece,
creating synergies with smaller interconnectors in
the region (eg. BG-RO), allowing access to the
evolving SEE energy market .
50%
230 m€ BEH A.D.
50%
ICGB A.D. EDISON
IGB Granted EU
3-5 bcma 2015 IGI
Poseidon
50% S.A.
Funding: 45 m€ DEPA
50%
Why the Aegean LNG / IGB System
• Greece, the rest of Southern Europe and Turkey need long-term supply and are stable
growing markets.
• The Aegean LNG is the closest and least expensive route to the Greek, SEE and Turkish
markets.
• Aegean LNG can be the first regasification terminal to target the broader SE European
market through IGB.
• Aegean LNG is at the crossroads of several key infrastructure projects, including cross-
border pipelines and gas storage.
Thank you for
your attention